This Is What Is Happening To The Failed Masters Stores!

Two of Australia’s biggest companies are set to buy out Master’s stores and turn them into homemaker centres.

In a big move, the Spotlight group have gained control of 19 blocks of real estate that all are currently the home to Masters stores.

The family behind Spotlight are known for developing large-format homemaker centres, often with Spotlight and Anaconda stores as anchors, which will be ideally placed to benefit from the failure of Masters.

Most of the sites will be on Australia’s eastern seaboard, apart from one in Perth and they will become homemaker centres, but some could include residential developments.

Co-Owner Molly Fraid said ‘"We'll start doing stuff hopefully by May next year if it all goes to plan. There's some sites we want to start building on straight away in Sydney and Queensland, some of the larger sites,"

Other companies looking at the Master's sites include the Melbourne-based Chemist Warehouse.